new to credit!! help

CLAPTON

ell9 wrote: »

Yeah I don't really want a car on finance Im just fed up with unreliable cars cos ive had that ever since I've passed my test..

I mainly need a way to build up credit and thought I could kill 2 birds with one stone in theory..

I am looking to save for a mortgage so I need to build up credit somehow

subject to the answers to the questions I've already asked, if you want to build up a credit history then apply for a CC from your own bank
then use the CC regularly for normal spending but ensure you pay in full each month
best to set up a DD for the full amount
if you pay in full and don't use it to draw cash then you will pay no interest and will build up a good credit file.

ell9

Hello, Im awaiting for my experience pin to see if I'm on electoral roll. I should be because I applied 6-8 weeks ago.. I'm showing registers at my dad's address 2 years ago but then nothing. I can't even apply for a credit card through my bank.. Halifax.

I'm very confused why I can't seem to get any form of credit. It's almost as if I'm being penalised for always having savings and no overdraft credit card etc..

ell9

Experian *

ell9

Also my salary is 16,800 been there since last August and prior to that earned 14500 and worked there for 2 years since I was 18 no breaks in employment in that time

Pixie5740

ell9 wrote: »

Hello, Im awaiting for my experience pin to see if I'm on electoral roll. I should be because I applied 6-8 weeks ago.. I'm showing registers at my dad's address 2 years ago but then nothing. I can't even apply for a credit card through my bank.. Halifax.

I'm very confused why I can't seem to get any form of credit. It's almost as if I'm being penalised for always having savings and no overdraft credit card etc..

It might not be showing on your credit file yet. You register to vote, the councils update the registers quarterly and I think the credit reference agencies update their files annually in October.

I moved in November 2013, registered at my new address that month, I'm on the electoral regsiter for my current address as I got my card through for voting in the recent European elections, but the CRAs say that I'm not on the electoral register.

ell9

I see. Thanks for all your replies. Hopefully in October I can at least have the option of some form of credit!

DCFC79

ell9 wrote: »

Hello, Im awaiting for my experience pin to see if I'm on electoral roll. I should be because I applied 6-8 weeks ago.. I'm showing registers at my dad's address 2 years ago but then nothing. I can't even apply for a credit card through my bank.. Halifax.

I'm very confused why I can't seem to get any form of credit. It's almost as if I'm being penalised for always having savings and no overdraft credit card etc..

I didnt get a credit card until I was about 24 so for 6 years I managed to not spend more than I earned, keep my account in the plus and built up savings whilst buying and running a car, my credit history was very good and did all that with no credit card.

ell9

That's exactly the same for me though. So why is my credit bad? I don't even have an overdraft

Tixy

ell9 wrote: »

That's exactly the same for me though. So why is my credit bad? I don't even have an overdraft

As has already been said your credit isn't 'bad'. With a very limited credit history it is hard for a potential lender to judge how good/bad a risk your are.

You say you are not being accepted for any sort of credit - what applications have you made for credit recently that have been declined?

Lots of applications close together tend to make potential lenders wary.

If you have made a number of recent applications then I wouldn't make any more for a few months. Then at that point either try applying for a credit card with your own bank, or a subprime card that are aimed at people with a limited credit history - http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards
You might also want to check the MSE eligibility checker which would give you an indication as to which credit cards may accept you without leaving a full credit search on your credit files.

DCFC79

ell9 wrote: »

That's exactly the same for me though. So why is my credit bad? I don't even have an overdraft

Well I dont think you cant do anything until you get the PIN from Experian, maybe apply for 1 of the credit cards for those for poor/limited credit.